China's Big Four state-owned banks will launch a pilot programme for retirement savings products in several regions soon, the CBIRC has announced.
Direct fund flows to insurers' retirement savings insurance (mainly annuities), arising from the private pension scheme to be introduced by the government, will be moderate at the beginning of the scheme, says Moody's Investors Service.
The CBIRC has issued a notice on regulating and promoting the development of commercial personal pension plans, outlining several principles to be followed by insurers and other financial institutions that engage in the business.
Prudential Singapore and NTUC Income have joined hands to help Singaporeans prepare financially for their later years and long-term care needs.
The newly established national pension insurance company , called Guomin Pension & Insurance Co, has released its first financial report, that is for the first quarter of this year.
The majority (83%) of Australians with insurance in superannuation say it is important; however, only 42% ever review their cover, according to the findings of a survey by MLC Life Insurance.
The government should introduce measures to counter the financial burden of supporting an ageing society, says the director of the Fiscal Policy Office (FPO), Mr Pornchai Teerawet.
The Ministry of Human Resources and Social Security (MoHRSS), the Ministry of Finance, the CBIRC and the China Securities Regulatory Commission (CSRC) have announced that the government would release rules for the implementation of a private pension scheme as soon as possible.
Superannuation funds will soon get more 'hands on' with helping members convert their super into retirement income once the new Retirement Income Covenant (RIC) takes effect, according to a paper issued yesterday by the Actuaries Institute.
The Federal Court has ordered one of Australia's biggest banks, Westpac to pay penalties in the amount of A$113m ($82m) for widespread compliance failures across multiple businesses, including Westpac's banking, superannuation, wealth management and insurance brands.